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Home / Metal News / The market has limited low-priced supplies, and high-grade NPI prices are fluctuating upward [NPI Daily Review]

The market has limited low-priced supplies, and high-grade NPI prices are fluctuating upward [NPI Daily Review]

Oct 31, 2024 17:31

Source:SMM

On October 31, SMM reported that the average price of 8-12% high-grade NPI was 1,024 yuan/mtu (ex-factory, tax included), up 1.5 yuan/mtu from the previous working day.

On October 31, SMM reported that the average price of 8-12% high-grade NPI was 1,024 yuan/mtu (ex-factory, tax included), up 1.5 yuan/mtu from the previous working day. Supply side, domestically, the profits of domestic smelters have improved compared to earlier periods, with some smelters now seeing profits. With stronger production incentives, production is expected to increase slightly. In Indonesia, the shortage of nickel ore for smelters has eased, and the supplementation of high-grade nickel ore has pushed the average grade upward, maintaining a growth trend in metal content. Demand side, stainless steel spot prices have stabilized after a decline, although actual transactions remain weak. However, as the month is about to end, some essential restocking may be released, leading to a slight increase in market inquiry prices. In the short term, high-grade NPI is expected to fluctuate upward with the release of demand.

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